If the Quantity of Concert Tickets Sold Decreases by 10

question 101

Multiple Choice

If the quantity of concert tickets sold decreases by 10 percent when the price increases by 5 percent, this market is operating in which section of its downward-sloping straight-line demand curve?

• A) the section above the point of unit elasticity
• B) the point equal to unit elasticity
• C) the section below the point of unit elasticity
• D) This market show elastic demand which could occur at any point along the demand curve.

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